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CrowdFunding is not always about money

Crowdfunding has helped people from various walks of life to attracts fans and followers and gain a social quotient for their project thus helping them raise funds for their project in little time and make it successful.
One might argue that crowdfunding is only helpful in raising money for a project or a campaign. Once the project is completed, the end. Yes, it is true that crowdfunding focuses on the collection of funds but it has a broader view to it. The success of a project is not only determined by the amount of money collected but also by the number of backers. Larger the number of backers more popular the project is. They believe in the project, acknowledge it and support it publicly.

Crowdfunding gives a sense of community work. The backers to a project feel themselves an integral part of it when they fund their money and receive rewards. Also when they are updated about the project they feel that their presence is important. When a crowdfunding campaign is successful a feeling of togetherness arises for the completion of a project. This sense of community work enables them to take part in backing more projects thus broadening the whole concept of crowdfunding. It sends an invitation to the crowd to take part and support a movement that will benefit the community. The success of a project in itself acts as a reward and gives the crowd a sense of ownership of the project which they acknowledged by financial support thus making it possible.
Projects which are especially directed towards a social cause or benefit of the society through means of media attract a huge crowd and enable them to contribute towards the benefit of the society. Although crowdfunding usually is not donation based, the most popular one being reward crowdfunding, it gives the backers a sense of involvement in the improvement of their own social environment by supporting social cause based project.

Thus the concept of crowdfunding is not only restricted to money but also involves community which contributes to the success of one’s project even better rather than running from pillar to post in an effort to gain social acknowledgment.

HEADLINE NEWS

U.S. News & World ReportNo Cash for Hate, Say Mainstream Crowdfunding FirmsU.S. News & World ReportThe block on mainstream crowdfunding is just the latest blow to far-right activists operating online. In the last 24 hours, neo-Nazi website the Daily Stormer had its domain regi [...]

LITTLE GUIDANCE FROM IRS ON TAXING CROWDFUNDING CONTRIBUTIONSBloomberg BNAWe've all heard the stories of crowdfunding appeals that go viral. Whether it's a musician raising money to produce an album, an inventor with a great idea, or a family in distress that needs help, cro [...]

VCCircleNew trends in crowdfunding that make it a potent fund-raising toolVCCircleOver the years, crowdfunding has become popular among entrepreneurs mainly because it's a great way to test the waters before you actually launch the product or service. You understand your idea [...]

Telegraph.co.ukSkiTelegraph.co.ukBut now, to supplement her fast food income and to be more certain of joining her older sister Katie, a fixture on the Park and Pipe team, Summerhayes has launched a crowdfunding campaign with PledgeSports to raise some money towards her travel and ... [...]

NewshubWoman born without vagina crowdfunding surgeryNewshubThe family of a woman born without a vagina has started a crowdfunding campaign to receive reconstructive surgery. Kaylee Moats, from Arizona, lives with Mayer Rokitansky Küster Hauser syndrome (MRKH) meaning she has no cervi [...]

ForbesWhat Works In Equity Crowdfunding -- Insights From ResearchForbesAs we have recently celebrated the fourth anniversary of the signing of the JOBS Act into law, it is a good time to take stock of the effect that the legislature had on equity crowdfunding in the United States. It [...]

Global Crowdfunding Market 2017-2021PR Newswire (press release)Global Crowdfunding Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The rep [...]

AOL UKShould you forget the stock market and focus on crowdfunding?AOL UKIn recent years, the popularity of crowdfunding has soared. For example, in 2016 the amount raised through crowdfunding surpassed venture capital funding for the first time in its history. By 2025, it is estimate [...]